Socket Mobile Plans Nasdaq Delisting for OTCID Market
News related to:Socket Mobile, Inc · 2 min read
FREMONT, Calif., Oct. 27, 2026 /CourierPR/ -- Socket Mobile, Inc., a leading provider of data capture and delivery solutions, announced its intention to voluntarily transition its listing from the Nasdaq Capital Market to the OTCID Market operated by OTC Markets Group Inc. This move is part of the company's strategic evaluation and aims to reduce administrative and regulatory overhead.
The decision follows an extensive review of the company's strategic alternatives, market capitalization, and operational costs. According to the press release, the Board of Directors concluded that the substantial legal, accounting, compliance, and listing fees associated with maintaining a Nasdaq listing are no longer an optimal use of corporate capital relative to the benefits provided. By transitioning to the OTCID Market, Socket Mobile expects to substantially reduce these costs and redirect critical capital toward core product development, operational execution, and long-term business objectives.
The company has received confirmation from OTC Markets Group Inc. that it has satisfied the onboarding qualifications for quotation on the OTCID Market. The transition is expected to have no impact on the company's business operations, customer commitments, or product delivery schedules.
Socket Mobile currently operates below the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders' equity. The company previously submitted a compliance plan to Nasdaq Listing Qualifications. Following an assessment of market conditions and the costs associated with maintaining compliance, the Board determined that transitioning to the OTCID Market serves the best interests of the company and its stockholders.
On October 27, 2026, the company delivered written notice to Nasdaq of its intention to voluntarily delist. This notice was also posted on the company's website at www.socketmobile.com/knowledge-center/news-updates. The company intends to file a Form 25 (Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended) with the Securities and Exchange Commission (SEC) on or about November 9, 2026, subject to satisfaction of applicable requirements.
Delisting from the Nasdaq Capital Market is expected to become effective on or about November 19, 2026, ten calendar days after filing Form 25. Regular trading on Nasdaq is expected to cease at the close of regular market hours on November 18, 2026. Quotation of the company's common stock on the OTCID Market under the symbol SCKT is expected to commence at the open of trading on or about November 19, 2026.
Socket Mobile intends to continue filing periodic reports, including Forms 10-K, 10-Q, and 8-K, with the SEC in accordance with applicable rules under the Securities Exchange Act of 1934, as amended.